India to achieve $50-bn oftware export target by 09: Nasscom

Hyderabad, March 29 | Updated: Mar 30 2005, 05:30am hrs
The Indian software industry is very much on its way to become a $50 billion exporter by 2009 and the year-on-year export growth is expected to be higher than the current level of 29%, said Kiran Karnik, president, National Association of Software and Services Companies (NASSCOM).

In an informal talk with the media here on the occasion of the apex bodys executive council meeting on Tuesday, Mr Karnik said: We are on track to achieve the projected figure of $50 billion by 2009 and if at all any unprecendented things happen, the target may be delayed by six months or so, Mr Karnik said.

The software exports as of 2003-04 stood at $15.9 billion and is expected to reach $20.50 billion in 2004-05. Responding to a query, he said: Exports during the fiscal will outperform that of last fiscals 29% and is expected to end up around 32% to 34%.

We believe that exports in the next few years will grow further to achieve the target, he said, adding that growth during the fiscal will reaffirm Indias strength in overall exports and as a number one player.